Enthusiasts Optimistic About Cryptocurrency in the Year 2019

About $927 million in digital currency has been stolen from different cryptocurrencies in the first three quarters of the year 2018.

Unregulated cryptocurrency exchanges have been identified as a major source of criminal Bitcoin payments.

Direct payments are the funds
that move from an identified criminal source to a cryptocurrency exchange. Indirect payments move from cryptocurrency
wallets to one or more sources before they are ultimately converted to fiat or
cryptocurrency.

Whether about theft or laundering
transactions, both of them happen by exploiting the known vulnerabilities of
the cryptocurrency exchange. Insider
theft in the exchanges happens by compromises in passwords. When it comes to
identifying the personalities and the whois information of those who are
compromising on the ethics of decentralized transactions, the details of the
opportunists are pretty identifiable. And, they land up somehow getting away
with it.

The criminals know how to pass
the identification system in complete ease. Hacks had sent the investors in
emotional roller coasters when the exchange in which they invested was hacked.
Swim swapping scams, malware, and ransomware alerted the regulators in almost
every country, and each nation is coming up with their own terms about
regulating the cryptocurrency.

There were some biggest
cryptocurrency hacks that were never revealed. And regulators are probing into
the working codes of companies involved in offering cryptocurrency-based
transactions. With increasing concerns
about market risks, regulators frequently call for inquiries, and when the
regulatory body finds out that the company is working without due authorization,
they issue warnings with respect to the non-compliance and warn the prospective
investors about investment scams.

Governments are willing to give
the regulators more power to oversee the cryptocurrency market and to weigh the
reliability of the prospectus and white paper declarations of the company. The regulation also involves dealing with the
trading infrastructure and setting regulatory standards for their functioning.

It is ultimately about ending the
bad practice to enable the potentially exciting industry to spread as it should
for the advantage it can deliver. There are countries like India who do not
have the time for regulation, and they do not approve it either. There are
countries like China who ban it.

Hardcore cryptocurrency
enthusiasts regret only when a scam or hack happens. They are ready to face the bear market
because they believe in long-term trends. They are not concerned about the
blood in the street now. Many of them are starting 2019 in complete optimism
for the cryptocurrency market.

About The Author

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.